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Apollo Hospital eyes Luxembourg or London Stock exchange for GDR listing
Chennai: Apollo Hospitals and Enterprises Ltd (AHEL) has informed its share holders that its forthcoming $75 million GDR issue will be listed at either the London Stock Exchange or the Luxembourg Stock Exchange.

Alongside the GDR issue, the company is also coming up with a $60 million sponsored GDR issue. The shareholders in the meantime have approved resolutions allowing AHEL management to go ahead with the GDR issues and also to issue 10 lakh warrants to the promoters. These warrants could be converted into equity shares at a price of Rs334.15 each.

Also approved was a resolution to raise the FII limit from 49 per cent to 74 per cent of the paid-up capital.

It is expected that Schroder Capital Partners (Asia), a venture fund that has close to 20 per cent stake in AHEL, will exit the company, because the term for which it had agreed to stay invested in the company had come to an end.
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